708 N Marsalis · Dallas, TX 75203

$1,600,000

400 bd · 400.0 ba · 5,008 sqft · MultiFamily public records · 57 Days on market

Built 1958 0.42 ac lot $319/sqft · 475% above area

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Why this score? — see what drove the B+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Schools +2.8/10.0
• Condition / age +2.5/5.0
• Rent growth +1.8/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 20 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Saint Francis Apartments is a 20 unit, classic courtyard-style community located on North Marsalis Avenue in the rapidly evolving North Oak Cliff neighborhood of Dallas. The property sits just one block from Lake Cliff Park, a historic and scenic urban green space featuring a tranquil lake, recreational amenities, and sweeping views of the Dallas skyline. Owned and operated by the same family for more than 25 years, Saint Francis presents a compelling opportunity for new ownership to enhance value through both physical improvements and operational efficiencies. Additionally, the property is situated within a designated Opportunity Zone. This designation allows investors to reinvest capital gains into a Qualified Opportunity Fund (QOF), providing the potential to defer taxes on those gains by improving the property. Average rents range from 700-800 all bills paid.

Key facts

• 0.42 acre lot
• 20 parking spots
• Built 1958

Tags

• NORTH OAK CLIFF NEIGHBORHOOD
• ONE BLOCK FROM LAKE CLIFF PARK
• HISTORIC URBAN GREEN SPACE

What this means for you Summary

Snapshot

• This is a 20 × 20-bed/20.0-bath units multifamily listed at $1.60M.

Deal economics

• At list price, monthly cash flow is $18k ($211k/yr) — positive. Per door: $879/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($36k rent vs $1.60M).
• Recommended offer: $1.55M (3.0% below list) — sets the bar for market timing.
• Cap rate 19.5% vs local median 2.3% in Dallas — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 81/100 on livability (#24 in TX, #1,380 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: schools C-, crime F.
• Dallas ISD (urban): math 31% / reading 36% proficiency, ranked #559 of 826 in TX (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 83% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents soft (-2.7%/yr); 146 active listings in the ZIP; 12,577 units permitted in Dallas County in 2024 (6,829 in 5+ unit buildings).
• At $36,025/mo this rent would consume 920% of the median local household income ($47k/yr) (locally 948% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $171k of equity ($11k loan paydown + $160k appreciation (10.0% local appreciation)).
• Dallas County population projected at +35% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 0.0% rent growth), your $448k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$275k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 57 days — a 3% lower offer ($1.55M) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,552,000 (3.0% below list)

Questions for the listing agent

1. It's been on market 57 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.25% ✓
• Cap rate: 19.48%
• Cash-on-cash: 47.09%
• DSCR: 3.10
• GRM: 3.7

CMA / ARV

• ARV (median comp): $555,864
• List price: $1,600,000
• Delta: 187.84%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

10.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 59.0%
• Equity multiple: 5.21×
• Total profit: $1,886,012
• Equity at exit: $1,441,407

10-year hold

• IRR: 51.3%
• Equity multiple: 11.01×
• Total profit: $4,485,254
• Equity at exit: $3,108,448

Cash invested: $448,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Texas: 87 Strongly Landlord-Friendly · R+5
• County: — inherits STATE
• City: — inherits STATE

3-day notice; statewide preemption; one of the fastest eviction climates; Travis County (Austin) slightly slower.

Methodology + full state rankings →

ZIP-level market 75203

• Home prices YoY: 31.8%
• Rents YoY: -2.7%
• Active inventory: 146
• Price-to-rent: 74.0×

Monthly cashflow live

• Estimated rent: $36,025 medium
• Mortgage (P&I): −$8,391
• Tax from tax record: −$1,821 /mo · $21,857/yr
• Insurance: −$667
• HOA: −$0
• Vacancy / Maint / Mgmt: −$7,565
• Net cashflow: $17,581

Break-even live

Break-even rent $13,770

Max offer price $1,600,000

Occupancy floor 46%

Sensitivity live

Price	-10% $18,487	-5% $18,034	+0% $17,581	+5% $17,128	+10% $16,675
Rent	-10% $14,735	-5% $16,158	+0% $17,581	+5% $19,004	+10% $20,427
Rate	-1.0pp $18,387	-0.5pp $17,988	base $17,581	+0.5pp $17,167	+1.0pp $16,745

20-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 20× units	20	20	$36,020
Total (20 units)			$36,025

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $400,000
• Closing costs: $48,000
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-06
   status Pending 878-char remark

   Show marketing remark (878 chars)

   Saint Francis Apartments is a 20 unit, classic courtyard-style community located on North Marsalis Avenue in the rapidly evolving North Oak Cliff neighborhood of Dallas. The property sits just one block from Lake Cliff Park, a historic and scenic urban green space featuring a tranquil lake, recreational amenities, and sweeping views of the Dallas skyline. Owned and operated by the same family for more than 25 years, Saint Francis presents a compelling opportunity for new ownership to enhance value through both physical improvements and operational efficiencies. Additionally, the property is situated within a designated Opportunity Zone. This designation allows investors to reinvest capital gains into a Qualified Opportunity Fund (QOF), providing the potential to defer taxes on those gains by improving the property. Average rents range from 700-800 all bills paid.

2. 2026-02-27
   listed $1,600,000 Active 878-char remark

   Show marketing remark (878 chars)

   Saint Francis Apartments is a 20 unit, classic courtyard-style community located on North Marsalis Avenue in the rapidly evolving North Oak Cliff neighborhood of Dallas. The property sits just one block from Lake Cliff Park, a historic and scenic urban green space featuring a tranquil lake, recreational amenities, and sweeping views of the Dallas skyline. Owned and operated by the same family for more than 25 years, Saint Francis presents a compelling opportunity for new ownership to enhance value through both physical improvements and operational efficiencies. Additionally, the property is situated within a designated Opportunity Zone. This designation allows investors to reinvest capital gains into a Qualified Opportunity Fund (QOF), providing the potential to defer taxes on those gains by improving the property. Average rents range from 700-800 all bills paid.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast TX · Resets to sale price

• Current annual tax: $21,857 · $1,821/mo
• Projected year-2 tax: $29,280 · $2,440/mo
• Expected delta: +$7,423/yr (+$619/mo · 34.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 23 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $432,300
• − Mortgage interest: −$89,625
• − Property taxes: −$21,857
• − Insurance: −$8,000
• − Repairs & maintenance: −$34,584
• − Management: −$34,584
• − Depreciation: −$46,545
• Taxable income: $197,105
• Est. tax owed @ 24.0%: −$47,305
• After-tax cash flow: $163,668/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Dallas ISD
• NCES district ID: 4816230
• Math proficiency: 31% ▼ -16.00%
• Reading proficiency: 36% ▼ -4.00%
• Median HH income: $42,881
• Composite: 28.41/100
• National rank: #6763
• State rank: #559 of 826 in TX

Livability — Dallas

• Score: 81/100
• State rank: #24
• US rank: #1380

Category grades

Amenities A+ Commute A+ Cost of living A- Crime F Employment C+ Housing A+ Health & safety A User ratings B

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dallas, TX
• County: Dallas County · 2,612,404 people
• City population: 1,168,437
• Metro: Dallas-Fort Worth-Arlington, TX
• Population (ZIP): 15,775
• Household income: $46,989
• Rent vs Own: 62.1% rent · 37.9% own
• Severe rent burden: 948.0

Population outlook (Dallas County) Hauer SSP2

• Today (2025): 2,979,839 people
• By 2030: 3,191,823 · +7.1%
• By 2040: 3,619,611 · +21.5%
• By 2050: 4,026,915 · +35.1%
• By 2075: 4,957,073 · +66.4%
• By 2100: 5,508,725 · +84.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: Hispanic / Latino 59% Black 31% Two or more races 17% White 7% Native American 2%
• Hispanic origin (detail): Mexican 53%
• Common ancestry: Lithuanian 1% Swiss 1%
• Foreign-born: 29% · Canada, China, Jamaica
• Languages at home: 47% English-only · Spanish 51% French/Haitian/Cajun 1%

Political lean MEDSL · Dallas

• 2024 margin: Strong D (+22.2) · D 60.2% · R 38.0% · Other 1.8%
• 2008→2024 swing: +6.9pp toward D · 2008: 15.3pp · 2024: 22.2pp
• All cycles: 2024: D+22.2 2020: D+31.6 2016: D+26.2 2012: D+15.4 2008: D+15.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 86.64%
• Current HPI: 358.9507
• Rent YoY: ▼ -2.72%
• Metro: Dallas-Fort Worth-Arlington, TX
• State GDP YoY: ▲ 3.95%
• F500 in state: 110

Industry mix (Fortune 500 HQ in TX)

Industry	F500 HQs	Revenue
▸Energy	16	$1,198B
▸Technology	5	$198B
▸Engineering / Construction	4	$72B
▸Energy Services	3	$60B
▸Utilities	3	$41B
▸Healthcare	2	$330B

Price history

2 events — show timeline

• 2026-05-06 Pending — NTREIS
• 2026-02-27 Listed $1,600,000 NTREIS

Property tax history

+7.5%/yr

Latest (2025): $21,857 · +2.9% YoY. Source: county tax records.